Optimal bidding strategy for an aggregator of prosumers in energy and secondary reserve markets

• Type: Article in International Scientific Journal
• Date: 2019

Authors

José Iria (Author) Other; Filipe Soares (Author) Other; Manuel Matos (Author) FEUP

Journal

Title: Applied Energy

Vol. 238

Pages: 1361-1372

ISSN: 0306-2619

Publisher: Elsevier

Indexing

ISI Web of Knowledge - 53 Citations

Scopus

INSPEC

Other information

Authenticus ID: P-00Q-587

DOI: 10.1016/j.apenergy.2019.01.191

Abstract (EN): This paper proposes a two-stage stochastic optimization model to support an aggregator of prosumers in the definition of bids for the day-ahead energy and secondary reserve markets. The aggregator optimizes the prosumers' flexibility with the objective of minimizing the net cost of buying and selling energy and secondary reserve in both day-ahead and real-time market stages. The uncertainties of the renewable generation, consumption, outdoor temperature, prosumers' preferences, and house occupancy are modeled through a set of scenarios. For a case study of 1000 prosumers, the results show that the proposed bidding strategy reduces the costs of both aggregator and prosumers by 40% compared to a bidding strategy typically used by retailers.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 12